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Crerar Hotel Group sells to Blantyre and Fairtree as couple continue to build portfolio
15 March 2023
Crerar Hotels has been acquired by Blantyre Capital with its business partner Fairtree Hotel Investments
The Group's portfolio includes the Loch Fyne Hotel & Spa and Golf Hotel, Oban Bay Hotel, the Isle of Mull Hotel & Spa in Craignure, Balmoral Arms in Ballater on Royal Deeside and the Golf View Hotel & Spa, Nairn; Thainstone House in Inverurie and The Glencoe Inn.
The acquisition is Blantyre and Fairtree's fourth landmark hotelbuyout in the UK since 2021 after also acquiring Fonab Castle and Dunkeld House hotel in Perthshire and Daffodil Hotel and Spa in Cumbria.
Crerar will remain under the leadership of chief executive Chris Wayne-Wills after the deal closes.
Outgoing chairman Paddy Crerar CBE said:"We set out to deliver the type of hotels and service that properly reflects Scotland – a world class destination that is consistently a podium finisher in the global tourism marketplace. It's been an absolute joy seeing our ambitions flourish and be rewarded by guest demand and loyalty.
Joe Bester, Fairfax Property Portfolio Manager, said:"Both [Fairtree investments principal] Nic Ross and I are hugely excited to be expanding our hotel portfolio in Scotland with the addition of the Crerar Hotel Group, which offers a variety of beautiful hotels in iconic locations across Scotland."
"After getting to know the new potential owners it was soon clear that they shared identical aims and ambitions to those we have worked hard to foster at Crerar Hotels." - Paddy Crerar
Chris Wayne Wills CEO of Crerar Hotels said:"This is an extremely exciting time for Crerar Hotels, we are looking ahead to a record year of performance with our hotels now at the highest level of facility and service. Knowing the ambition of the new owners our teams are ready and will relish the opportunity to make this next step change an unbridled success."